SOCAN members' music shines in Canada and abroad as SOCAN sets a
royalties distribution record of $262 million.
TORONTO, April 23, 2012 /CNW/ - The Society of Composers, Authors and
Music Publishers of Canada (SOCAN) today announced its 2011 financial
results, highlighting the further continuation of the positive trends
observed in 2010: stronger collections and higher distributions to
Total revenue was $267 million, a 3.7 percent increase year over year if
excluding the one-time internet arrears revenue of $17 million reported
in 2010's revenue.
SOCAN distributed a record-setting $262 million to songwriters,
composers and publishers in 2011. However, this figure included the
special distributions of radio and ringtones arrears, and the
first-ever distribution of satellite radio arrears under Tariff 25. If
these one-time arrears payments are excluded, SOCAN's regular
distributions in 2011 were $214 million, a $19 million or 7.1 percent
increase from 2010 ($195 million).
The overall net expense ratio remained the same as 2010 at 14.3 percent.
As a result, 86 cents of each dollar that SOCAN collected were
distributed to members.
Traditional media (cable, TV, radio) revenue increased 3.5 percent.
International revenue increased 8.3 percent to $46 million due to
strong member activity abroad, proactive relationship management with
affiliated music rights organizations around the world, and a slightly
weaker Canadian dollar.
"2011 represented another strong year for SOCAN and our incredibly
talented music creator and publisher members" said Eric Baptiste, CEO
of SOCAN. "We distributed a record-setting amount of royalties by
licensing music usage in more businesses, expanded our membership pool,
and kept our expenses in check. What this all means is more money went
into the hands of our members, something SOCAN strives to accomplish
SOCAN is a not-for-profit, member-based organization that represents the
Canadian performing rights of over three million Canadian and
international music creators and publishers. SOCAN is proud to play a
leading role in supporting the long-term success of its more than
100,000 Canadian members, as well as the Canadian music industry. SOCAN
collects licence fees from over 45,000 businesses from coast to coast
and distributes royalties to its members and music rights organizations
around the world. SOCAN also distributes royalties to its members for
the use of their music internationally in collaboration with its peer
For further information:
Marketing and Communications, SOCAN